NatWest Premier Reward current account review
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Cashback
- Incentive
- Switch to a NatWest Premier Reward account by 6th January 2026 and you could get access to a 12-month Limited Edition Saver account. T&Cs and restrictions apply. Limited availability offer. More infoIf you switch to a NatWest Premier account by 6th Jan 2026, you could get access to a 12-month Limited Edition Saver account with rates between 4.00% / 3.93% AER/Gross p.a. (variable) and 1.06% AER/Gross p.a. (variable), so the more you save, the higher the rate could be. Earn 4.00% / 3.93% AER/Gross p.a. (variable) on £100K–£3m (includes 2.25% / 2.23% AER/Gross p.a. (fixed) 12-month bonus) and 3.25% / 3.20% AER/Gross p.a. (variable) on £50k–£99,999 (includes 1.50% / 1.49% AER/Gross p.a. (fixed) 12-month bonus). Balances up to £49,999 earn 1.06% / 1.05% AER/Gross p.a. (variable). The savings account becomes available when you make a full switch from another provider using the Current Account Switch Service (CASS). The same switch offer is also available through NatWest’s Premier Select Bank Account. The offer is available to customers who do not hold a NatWest current account or savings account as of 18th November 2025. 12-month term and the interest is paid monthly. You can apply for a NatWest Premier Select account if you are a UK resident, 18+ and have ONE of the following: at least £100k sole income or £120k joint income paid into a NatWest account OR £100k savings or investments held with NatWest OR £500k+ mortgage held with NatWest.
- Account fee
- £2 per month
- Interest (AER)
- 0% AER
- Overseas card transactions
- 2.75%
- Representative example
- Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200. How does this overdraft compare? Representative APRs help you compare the cost of different credit products. The monthly cap for unarranged overdraft charges for a Premier Reward account is £18.80. For more information, please visit the NatWest site.
Our verdict
Find out how you could earn a little extra with your current account in our review of the NatWest Premier Reward account.
If you're after a more exclusive current account that offers a range of benefits such as 24/7 customer support, a banking manager to help you with your financial affairs and the opportunity to earn rewards, this account from NatWest is worth a look.
The downside is that you'll need to meet strict eligibility criteria to be able to apply. You will also need to pay a monthly fee. If you don't meet the eligibility criteria, you could look at the standard Reward account instead.
If it is not for you, you can compare premier accounts from other banks here.
Pros
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Earn rewards that can be redeemed in various ways
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Round-the-clock support including a dedicated banking manager
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Arranged overdraft available
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Access to Premier benefits
Cons
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Monthly fee
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Strict eligibility criteria
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Interest charged on overdrafts at 39.49% EAR (variable), subject to eligibility
Details
Product overview
| Account name | Premier Reward |
| Incentive | Switch to a NatWest Premier Reward account by 6th January 2026 and you could get access to a 12-month Limited Edition Saver account. T&Cs and restrictions apply. Limited availability offer. More info If you switch to a NatWest Premier account by 6th Jan 2026, you could get access to a 12-month Limited Edition Saver account with rates between 4.00% / 3.93% AER/Gross p.a. (variable) and 1.06% AER/Gross p.a. (variable), so the more you save, the higher the rate could be. Earn 4.00% / 3.93% AER/Gross p.a. (variable) on £100K–£3m (includes 2.25% / 2.23% AER/Gross p.a. (fixed) 12-month bonus) and 3.25% / 3.20% AER/Gross p.a. (variable) on £50k–£99,999 (includes 1.50% / 1.49% AER/Gross p.a. (fixed) 12-month bonus). Balances up to £49,999 earn 1.06% / 1.05% AER/Gross p.a. (variable). The savings account becomes available when you make a full switch from another provider using the Current Account Switch Service (CASS). The same switch offer is also available through NatWest’s Premier Select Bank Account. The offer is available to customers who do not hold a NatWest current account or savings account as of 18th November 2025. 12-month term and the interest is paid monthly. You can apply for a NatWest Premier Select account if you are a UK resident, 18+ and have ONE of the following: at least £100k sole income or £120k joint income paid into a NatWest account OR £100k savings or investments held with NatWest OR £500k+ mortgage held with NatWest. |
| Provider | NatWest |
| Account fee | £2 per month |
| Interest (AER) | 0% AER |
| ATM withdrawal limit | £300 |
| Debit network | Mastercard |
| Card type | Cash / Debit |
| Minimum eligibility age | 18 |
| Minimum operating balance | £0.01 |
| Minimum opening balance | £0.01 |
| Direct debits | |
| Current account switch guarantee | |
| Cheque Book |
Fees
| Currency conversion withdrawal for overseas cash withdrawal in Europe (EEA) | 2.75 |
| Currency conversion withdrawal for overseas cash withdrawal in non-Europe (EEA) | 2.75 |
Overdraft information
| Arranged overdraft available | |
| Arranged overdraft rate | 39.49% |
| Overdraft Grace Period | 14:30 same day |
| Representative example | Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200. How does this overdraft compare? Representative APRs help you compare the cost of different credit products. The monthly cap for unarranged overdraft charges for a Premier Reward account is £18.80. For more information, please visit the NatWest site. |
NatWest, or National Westminster Bank, was established in 1968. The bank offers a wide range of financial products, including a variety of current accounts. This review looks at the Premier Reward account.
What is the NatWest Premier Reward current account?
The NatWest Premier Reward current account is a premium current account and one step up from its Premier Select current account. The account enables you to earn Rewards that you can redeem as cashback, gift cards and ecodes, but it also offers a Premier Banking service. In return, you must meet strict qualifying criteria and pay a £2 monthly fee.
The account can be opened on an individual or joint basis and can be managed online, via the mobile banking app, over the phone or in branch.
How does it work?
With the NatWest Premier Reward current account you’ll benefit from the following key features:
- Earn up to £10 a month in Rewards. Earn £9 a month in Rewards for 2 or more direct debits on the account (2 of those Direct Debits need to be at least £4.50 each). Plus earn an extra £1 per month with one mobile app login.
- Earn Rewards on spending. Earn from 1% when you spend with NatWest’s retail partners.
- Rewards exchange. Once you reach £5 in Rewards, you can redeem it as cashback, trade it up for gift cards or ecodes with NatWest’s retail partners or donate it to charity.
- Arranged overdraft. An arranged overdraft is available on the account (subject to eligibility). Interest applies at a rate of 39.49% EAR (variable).
- Round-the-clock support. Expert help is available 24/7 online or over the phone.
- Financial planning advice. Access Premier financial advice to help plan for your future.
- Premier banking manager. A Premier Manager will be on hand to help make your financial life easier.
- Access to will writing and executor services. A fee will apply.
- Enhanced level of insurance cover. Available if you need it with Premier Insurance.
Who is it for?
To apply for the NatWest Premier Reward account you will need to be at least 18 years old and a UK resident. You will also need to pay at least £1,250 each month into any eligible personal current account with NatWest and you must not currently hold 2 Reward accounts.
In addition, you will need to meet one of the following criteria:
- Earn a minimum sole income of £100,000 or joint income of £120,000 paid into your NatWest account
- Have £500,000 minimum mortgage borrowing with NatWest
- Have minimum £100,000 savings or investments held with NatWest
What are the benefits?
Provided you meet the above eligibility criteria and are happy to pay a £2 monthly fee, you’ll be able to earn rewards on your account, as well as benefit from 24/7 expert help and one-to-one financial support whenever you need it. You’ll also have access to an enhanced level of insurance cover (underwritten by UK Insurance Limited).
How to apply
You can open the NatWest Premier Reward current account online. You’ll need to provide some personal details such as your name, address, date of birth and email address, as well as proof of ID, such as a UK passport, UK driving licence or an EU/EEA national ID card. You may also be asked for proof of address.
What does the NatWest app look like?
Is it safe?
Yes, NatWest is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. This means eligible deposits will be protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person.
NatWest and Finder Awards
Our Finder Awards celebrate brands that truly stand out in their field, creating innovative personal finance products and providing outstanding service to their customers. NatWest is one of these brands and has won multiple awards!
Here's what it's won in the past year:
- 2025 Provider of the Year Award (Current Account Rewards)
- 2025 Provider of the Year Award (Premier Bank Account)
Frequently asked questions
Sources
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